lacs, Branch has also not obtained buyer-wise policy IPSG
of ECGC (Export Credit Guarantee Corporation) as stipulated in the
sanction, other sanctioned terms ... from 90 days to 150 days.
14. It is alleged that the ECGC had informed the Branch on
19.07.2007 that a sister concern
collateral security of adequate value, the firm did not propose to obtain ECGC
Post Shipment Policy and thus recommended for the waiver of the said ... ensured that the
borrowers are not in the RBI defaulters list and ECGC Caution List. He also
mentioned that the documents under Prime Bank
Officer was vested with discretionary powers of Packing
Credit against LC with ECGC Guarantee upto Rs. 20.00
lacs, Bill Purchase against confirmed order with ECGC ... drawn on Sight/DP is
not covered by LC but covered under ECGC Guarantee
upto Rs. 12.00 lacs, DA bills not covered
prejudicial to the interest of the bank.
B. Not taking Post Shipment ECGC Cover
10.2 The statement of the witness Sh. P. Basu, General Manager ... Chief Manger Corporate
Accounts would show that as per the prevalent practice ECGC
coverage for post shipment bills used to be obtained by the borrower
injunction for
the directions to revert all the debits of interest and ECGC Fee and to
release and deliver all the securities along with ... unless its dues are fully
paid by the borrowers and thus, the ECGC fees was justifiable and the
interest as claimed was also payable
plaintiff from business risk, took the
onus to pay the Insurance Company (ECGC) on behalf of the plaintiff.
The plaintiff himself has been negligent ... foreign buyer as it was negligent in filing the
complaint before ECGC on time and the same was rejected by it on the
ground
Asset (NPA).
(xvi) It was further alleged that Export Credit Guarantee
Corporation (ECGC) of India had also rejected the bank's claim
dated 13.12.2004 Ex.DW2/E;
(f) Copy of letter No. DHC/ECGC/2004-05/195
dated 22.03.2005 addressed to Export Credit
Guarantee Corporation
CHFL. CBI also
examined PW3 Ms. Niranjan Nagpal, the Manager, ECGC of
India Ltd., PW19 Sh. Prem Lal Malik, Dy. Registrar of
Companies. PW22 ... through the PCL amount.
............
...........
e) FBG limit should be covered under ECGC
cover for Guarantees and Policy held on record
(to be obtained
Cbi vs Shiv Kumar Sharma Etc. (9) Ms. Sati Exim ... on 23 July, 2024
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